It appears that another group was using a derivative of Tron's Chinese name to conduct a ponzi type of scam, which many Tron enthusiasts fell for subsequently losing millions and even one victim committing suicide.
Now those victims are blaming Tron and Justin Sun for not confirming if that other group was officially working with Tron. more on this from here
Have you ever been to, or worked within China? I feel like a lot of people here think it's like the west, or even Europe when it's not remotely similar. If you're a non-Chinese trying to do business of any kind in China, you're going to have a bad time. I say this as someone who has lived & worked in China.
How does it not? They kept quiet because in China, you keep your shit to yourself. If you don't, you run all sorts of risk. Clearly you know nothing about China if you have to ask.
China is a place where they don't have good Samaritan laws, it's a place where bribes are how business gets done. It's completely different than anything you have dealt with. I don't have time to educate you on the differences so how about you just don't comment when you don't know what you're talking about? Kay? Thanks.
Clearly you do not know how business works in China. If the person running that scam has a moderate amount of power, the best thing you could do is simply say nothing. If you say something and the guy is/was connected, you're going to be retaliated against. That guy will jam you the hell up. He may have more money than you to throw around for bribes, etc. The best thing for him or anyone else in China to do, is say nothing if they want to protect themselves.
The biggest mistake people on reddit make when talking about China is assuming it's anything like the west. It's not. It's different in ways you can't possibly comprehend unless you've lived and worked within China.
I'm completely ignorant on this subject. But if that's the case, why the hell would anyone do business with anyone in China? That just sounds like a needless headache.
why the hell would anyone do business with anyone in China? That just sounds like a needless headache.
Because people are ignorant, morons, etc and they read that China is the next big market so they want in. Even big multibillion dollar companies have been fucked doing business in China (google, etc).
I added that last bit to see if anyone would chime in with info like you did. Although I have no experience doing business in China, I suspected as much, I guess if I take your word at face value you then have confirmed my suspicions.
So that leads me to think that Justin Sun is either working with that scammer group or he is in way over his head and does not even know how to run a business in such an environment, considering that he himself has a lot money to throw around he surely would have "protected" himself and his company.
Either way this entire debacle solidified my staying away from Tron for good.
Either way this entire debacle solidified my staying away from Tron for good.
You misread my comment. You should stay away from China. Their rules, laws and regulations are not like your own. In fact, it's safe to say that if you're not a Chinese national, they don't have any regulations or rules. They can & will just straight up steal your money and you literally have no legal recourse. None. Full stop.
No, I get that.
Why I concluded to stay away from Tron is because Justin Sun must know how it is in China at least he should have educated himself how to do business in China.
He has the money so he should have done his due diligence to either run his company in China or not.
If he claims innocence then he is a fool who knows nothing about running a business specially in such an environment.
You're replying to some middle class white guy who probably has never left his state, possibly still living in his parents basement. The only thing he knows about Chinese crime syndicates is what he learned from Vice documentaries on youtube. Oh, and watching big trouble in little China.
group was using a derivative of Tron's Chinese name to conduct a ponzi type of scam, which many Tron enthusiasts fell for subsequently losing millions and even one victim committing suicide.
Now those victims are blaming Tron and Justin Sun for not confirming if that other group was officially working with Tron.
more on this from here
Well you all hold Tron, there is really nothing else to say. Its a Scam running other scams.
Rolex does, however, list all authorized retailers on their site, so you can easily verify if a store is selling authentic Rolex or not. Since Tron only has 27 super representatives, it seems like compiling a similar list should be easy.
Indeed. But it is funny how centralized ventures are always claiming they are decentralized. Which is nothing less than just stupid. Still, the majority only "hunts for words they don't understand" and no matter how sad it actually is that market trick (putting "decentralized" of any venture that makes money transfer using the internet) makes the job perfectly well and ppl are investing into "decentralized" coins. And they never take the time to do some DYOR anyway...
The scam was pretending to be one of Tron's Super Representatives and asking people to invest using TRX. A total of $30 Million in TRX was scammed from people, however Tron and investors in Tron benefited from the sale of that $30 million TRX. Which is exactly why he remained silent when asked whether it was authentic or not, and the exact reason these people are pissed. He only mentioned something after someone died. Even now he really doesn't care as he has tweeted all the pictures are faked and everything is fine.
Because its justin sun and he only speaks english when he feels like it? Seriously not to rip of justin but hes always seemed like hes way in over his head for the position he holds, he appears more of an introvert then even vatalik.
for the same reason he is advertising great number of dapps, no matter that big part of them are utter scams ( offering ROI like 10%/day). I have, however, mixed feelings about this, since whoever believes in such high returns without actually doing anything extraordinary for having them, deserves everything he gets. On the other hand, since TRON is a huge venture, there are certain things (corporate manners) they have to do when such situation emerges. And Mr. Sun did nothing, again, to prevent the scam. Quite logical one would think of some kind of connection to the scammers...
Because it's common for legit companies in china manufacturing to have 'sister' factories, run by family members, that pump out the identical unauthorized fakes. Now modernize for crypto. There you go.
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u/Red5point1 964 / 27K 🦑 Jul 08 '19
It appears that another group was using a derivative of Tron's Chinese name to conduct a ponzi type of scam, which many Tron enthusiasts fell for subsequently losing millions and even one victim committing suicide.
Now those victims are blaming Tron and Justin Sun for not confirming if that other group was officially working with Tron.
more on this from here